Rasi Electrodes Ltd approves preferential issue of 15 lakh shares

The Board of Directors of Rasi Electrodes Ltd at its meeting held on July 16, 2014, has considered and approved the issue and allotment of 15,00,000 Equity shares of Rs. 10 each to be issued at a premium to be determined in accordance with SEBI (ICDR) Regulations on a preferential basis to specified non-promoter investors subject to the approval of shareholders.

The Board has approved issue and allotment of 10,00,000 Warrants Convertible into equity shares of Rs. 10 each at a premium to be determined in accordance with SEBI (ICDR) Regulations on a preferential basis to specified Promoters and Non-Promoter investors subject to the approval of shareholders.

The Board approved proposal to increase the Authorised Share Capital from Rs. 6 crores to Rs. 8 crores subject to the approval of the shareholders.

The Board has authorized the Managing Director to fix the date, time and venue for holding the EGM of the members for approving the above matters.

Shares of RASI ELECTRODES LTD. was last trading in BSE at Rs.53.55 as compared to the previous close of Rs. 51. The total number of shares traded during the day was 12245 in over 138 trades.

The stock hit an intraday high of Rs. 53.55 and intraday low of 52. The net turnover during the day was Rs. 653655.

Source : Equity Bulls

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